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5505 52nd Street SE 5505 52nd St SE 70,000 SF 100% Leased 4-Star Industrial Building Grand Rapids, MI 49512 $9,187,307 CAD ($131.25 CAD/SF) 7% Cap Rate
INVESTMENT HIGHLIGHTS
- 65% Pro Rata is Absolute Net Lease
- Mark to Market Opportunity
- Partial Sale Leaseback
EXECUTIVE SUMMARY
Advantage Commercial Real Estate is pleased to present a two-tenant, 70,000 SF industrial property, with a partial sale-leaseback opportunity located at 5505 52nd St, Grand Rapids, MI 49512. McCarthy Group occupies 24,500 SF, 35% of the property, and upon close, will sign a lease at $8.91/SF net lease. The remaining 65% is occupied by Pioneer Molded Products on a short-term, absolute net, lease at a severely under market lease rate.
PROPERTY FACTS
| Price | $9,187,307 CAD | Lot Size | 12.41 AC |
| Price Per SF | $131.25 CAD | Rentable Building Area | 70,000 SF |
| Sale Type | Investment | No. Stories | 1 |
| Cap Rate | 7% | Year Built | 2006 |
| Property Type | Industrial | Clear Ceiling Height | 27’2” |
| Property Subtype | Manufacturing | No. Dock-High Doors/Loading | 6 |
| Building Class | B | No. Drive In / Grade-Level Doors | 2 |
| Zoning | I - Industrial | ||
| Price | $9,187,307 CAD |
| Price Per SF | $131.25 CAD |
| Sale Type | Investment |
| Cap Rate | 7% |
| Property Type | Industrial |
| Property Subtype | Manufacturing |
| Building Class | B |
| Lot Size | 12.41 AC |
| Rentable Building Area | 70,000 SF |
| No. Stories | 1 |
| Year Built | 2006 |
| Clear Ceiling Height | 27’2” |
| No. Dock-High Doors/Loading | 6 |
| No. Drive In / Grade-Level Doors | 2 |
| Zoning | I - Industrial |
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PROPERTY TAXES
| Parcel Number | 41-19-30-400-019 | Improvements Assessment | $0 CAD |
| Land Assessment | $0 CAD | Total Assessment | $3,179,130 CAD |
PROPERTY TAXES
Parcel Number
41-19-30-400-019
Land Assessment
$0 CAD
Improvements Assessment
$0 CAD
Total Assessment
$3,179,130 CAD
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5505 52nd Street SE | 5505 52nd St SE
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